Lisbon, Sept. 9, 2026 (Lusa) - Portugal's minister for the environment and energy argued on Wednesday that the state's stake in energy network operator REN could help speed up investment in the electricity grid – which is needed to increase the share of renewables – and help to reduce electricity prices.
«To bring down the price of electricity, we need to increase, for example, the proportion of solar and other renewables, which are much cheaper than other technologies,» said Maria da Graça Carvalho in parliament.
At a hearing before the Environment and Energy Committee, she linked the state's recent acquisition of a 13.7% stake in REN – Redes Energéticas Nacionais – to the need to speed up investment in the grid and connection processes.
According to the minister, several investments planned for Portugal are currently dependent on the availability of capacity in the electricity grid.
«We have a long list of very important investments to be made in Portugal that depend on the availability of the electricity grid,» she said.
Graça Carvalho argued that increasing the share of renewable energy requires investments in the grid to be made swiftly and in the places where they are needed. «And to achieve this, we need to make the necessary investments quickly, where they are needed,» she said.
She maintained that the State's shareholding in REN provides an additional means of intervention alongside existing mechanisms, through the approval of development and investment plans and independent regulation.
The minister had previously argued that the availability and price of clean energy will be decisive for Portugal's competitiveness and for attracting investment.
«The country's primary factor in competitiveness will be the availability and price of clean energy,» she stated.
The state business holdings manager, Parpública, recently completed the acquisition of a 13.7% stake in REN from Pontegadea Inversiones, the investment company of Amancio Ortega, founder of Inditex, the owner of Zara. This transaction marked the state's return as a shareholder in the electricity and gas network operator, having previously withdrawn in 2014.
With this acquisition, the State has become REN's second-largest shareholder, behind the Chinese company State Grid, which holds a 25% stake.
SCR/AYLS // AYLS
Lusa
